New development: Lessons and recommendations from South Korea’s experiences with integrated financial management information systems

The South Korean government has been reforming its public expenditure management system since 2004. During this time, South Korea adopted new budgeting processes (for example mid-term expenditure framework, top-down budgeting, performance-based budgeting) and developed a new integrated financial information management system. In the course of implementing these reforms, South Korea has important insights and lessons to share with developing countries.